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Nothing about RISC-V disallows hardware-level surveillance. Most if not all surveillance hardware on our devices are really just super-low-power ARM CPUs. You can in theory just make a RISC-V chip capable of doing the same work.
I do think you're probably right that it's more about having exclusive control over the intellectual property and the ISA specification. RISC-V does allow you to close-source your chip designs, but the foundation behind it was only moved to a relatively-neutral country (Switzerland) in 2019, which is some years after Loongson moved to proprietary CPU designs.
They're the only ones going proprietary as far as i know, most are going for RISC-V